Short Interest in Red Cat Holdings, Inc. (NASDAQ:RCAT) Decreases By 52.9%

Red Cat Holdings, Inc. (NASDAQ:RCAT) saw a large decrease in short interest in the month of March. As of March 15th, there was short interest totalling 303,100 shares, a decrease of 52.9% from the February 29th total of 644,200 shares. Currently, 0.6% of the company’s shares are short sold. Based on an average trading volume of 228,100 shares, the days-to-cover ratio is presently 1.3 days.

Institutional Trading of Red Cat

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RCAT. Vanguard Group Inc. lifted its stake in shares of Red Cat by 7.5% in the 1st quarter. Vanguard Group Inc. now owns 1,237,895 shares of the company’s stock valued at $2,500,000 after purchasing an additional 86,777 shares during the period. Charles Schwab Investment Management Inc. bought a new position in shares of Red Cat in the 1st quarter worth about $38,000. State Street Corp increased its stake in shares of Red Cat by 61.1% in the 1st quarter. State Street Corp now owns 109,058 shares of the company’s stock worth $220,000 after acquiring an additional 41,358 shares in the last quarter. Jane Street Group LLC bought a new stake in Red Cat during the first quarter worth about $52,000. Finally, Virtu Financial LLC purchased a new stake in Red Cat in the first quarter worth about $120,000. Hedge funds and other institutional investors own 37.97% of the company’s stock.

Red Cat Stock Performance

Shares of NASDAQ RCAT traded down $0.02 during mid-day trading on Thursday, hitting $0.77. The stock had a trading volume of 169,757 shares, compared to its average volume of 201,816. The firm has a market cap of $56.83 million, a P/E ratio of -1.47 and a beta of 0.54. Red Cat has a 1 year low of $0.53 and a 1 year high of $1.47. The business has a 50 day moving average price of $0.72 and a two-hundred day moving average price of $0.82.

Red Cat (NASDAQ:RCAT) last announced its quarterly earnings results on Monday, March 18th. The company reported ($0.04) earnings per share (EPS) for the quarter. The business had revenue of $5.85 million for the quarter. Red Cat had a negative net margin of 206.42% and a negative return on equity of 52.40%.

About Red Cat

Red Cat Holdings, Inc engages in the provision of various products, services, and solutions to the drone industry. The company operates through two segments: Enterprise and Consumer. It built infrastructure to manages drone fleets and fly, and provide services remotely, navigate confined industrial interior spaces and dangerous military environment.